[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fbwk2pqjjqsc7":3,"$f2jab3iiviqfxu":124},[4,8,12,16,20,24,28,32,36,40,44,48,52,56,60,64,68,72,76,80,84,88,92,96,100,104,108,112,116,120],{"id":5,"name":6,"slug":7},1,"Uncategorized","uncategorized",{"id":9,"name":10,"slug":11},5,"For Buyers","buyers",{"id":13,"name":14,"slug":15},6,"For Sellers","sellers",{"id":17,"name":18,"slug":19},7,"Foreclosures","foreclosures",{"id":21,"name":22,"slug":23},8,"Infographics","infographics",{"id":25,"name":26,"slug":27},9,"Home Prices","home-prices",{"id":29,"name":30,"slug":31},11,"First-Time Buyers","first-time-buyers",{"id":33,"name":34,"slug":35},34,"Senior Market","senior-market",{"id":37,"name":38,"slug":39},35,"Mortgage Rates","mortgage-rates",{"id":41,"name":42,"slug":43},38,"Move-Up","move-up",{"id":45,"name":46,"slug":47},41,"For Sale by Owner","for-sale-by-owner",{"id":49,"name":50,"slug":51},42,"Featured","featured",{"id":53,"name":54,"slug":55},45,"New Construction","new-construction",{"id":57,"name":58,"slug":59},52,"Luxury \u002F Vacation","luxury--vacation",{"id":61,"name":62,"slug":63},53,"Rent vs. Buy","rent-vs-buy",{"id":65,"name":66,"slug":67},80,"Time-sensitive","time-sensitive",{"id":69,"name":70,"slug":71},81,"Outdated","outdated",{"id":73,"name":74,"slug":75},147,"Internal","internal",{"id":77,"name":78,"slug":79},148,"Do Not Autopost","do-not-autopost",{"id":81,"name":82,"slug":83},320,"Inventory","inventory",{"id":85,"name":86,"slug":87},321,"Agent Value","agent-value",{"id":89,"name":90,"slug":91},322,"Affordability","affordability",{"id":93,"name":94,"slug":95},323,"Buying Tips","buying-tips",{"id":97,"name":98,"slug":99},324,"Downsize","downsize",{"id":101,"name":102,"slug":103},325,"Economy","economy",{"id":105,"name":106,"slug":107},326,"Equity","equity",{"id":109,"name":110,"slug":111},327,"Forecasts","forecasts",{"id":113,"name":114,"slug":115},328,"Selling Tips","selling-tips",{"id":117,"name":118,"slug":119},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":121,"name":122,"slug":123},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing",{"items":125,"totalCount":270,"hasMore":271},[126,144,160,173,186,199,213,227,241,254],{"id":127,"slug":128,"title":129,"description":130,"excerpt":131,"contentType":132,"featuredImage":133,"bannerImage":131,"body":134,"agentsBottomLine":135,"bodyImage":136,"isInfographic":137,"categories":138,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":142,"updatedAt":143},60696,"the-latest-on-the-luxury-home-market","The Latest on the Luxury Home Market","\u003Cp>Luxury living is about more than just stunning views and cutting-edge smart home technology—it's about elevating your lifestyle.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240904\u002F20240905-The-Latest-on-the-Luxury-Home-Market-original.png","\u003Cp>Luxury living is about more than just stunning views and cutting-edge smart home technology—it's about elevating your lifestyle. And if you're in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here's why.\u003C\u002Fp>\u003Ch4>\u003Cstrong>The Number of Luxury Homes Is Growing\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>The top of the market, or luxury homes, can mean different things depending on where you live. But in general, these are homes that are in the top 5% price range in any area. According to a recent \u003Ca href=\"https:\u002F\u002Fwww.wsj.com\u002Freal-estate\u002Fmillion-dollar-homes-in-america-5f2b4f04\" rel=\"noopener noreferrer\" target=\"_blank\">report\u003C\u002Fa> from \u003Cem>Redfin\u003C\u002Fem>, the average value of those homes has risen to over one million dollars:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“The median sale price for U.S. luxury homes, defined as the top 5% of listings, rose 9% year-over-year to a record \u003C\u002Fem>\u003Cstrong>\u003Cem>$1.18 million\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem> during the second quarter.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>That same report goes on to show the percentage of homes valued at a million dollars or more has risen to an all-time high (\u003Cem>see graph below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp>\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240904\u002F20240905-There-Are-More-Million-Dollar-Homes-than-Ever-original.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240904\u002F20240905-There-Are-More-Million-Dollar-Homes-than-Ever-original.png\" alt=\"No Caption Received\">\u003C\u002Fa>That means, if this is your desired price range, you have options \u003Ca href=\"\u002F2024\u002F08\u002F12\u002Fare-there-more-homes-for-sale-where-you-live\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">to choose from\u003C\u002Fa>, each with different features and styles.\u003C\u002Fp>\u003Cp>Whether you're looking for the latest designs, like modern kitchens with high-end appliances, exclusive amenities, or enhanced privacy and security, the market that fits this lifestyle is growing.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Your Luxury Home Is an Investment\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>In addition, a luxury home could help you build significant long-term wealth.\u003Cem> \u003C\u002Fem>As the \u003Cem>Redfin \u003C\u002Fem>quote mentioned earlier says, luxury home prices are rising. That may be the reason there are a lot of people investing in luxury real estate right now. \u003Ca href=\"https:\u002F\u002Fwww.luxuryhomemarketing.com\u002Fassets\u002FLMR_NorthAmerica.pdf\" rel=\"noopener noreferrer\" target=\"_blank\">According\u003C\u002Fa> to the August \u003Cem>Luxury Market Report\u003C\u002Fem>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“By the end of July, the overall growth in the volume of sales in 2024 stood at 14.82% for single-family homes and 11.35% for attached homes compared to the same period in 2023.”\u003C\u002Fem>\u003C\u002Fblockquote>","\u003Cp>With more million-dollar homes on the market and prices going up, you have luxury options to choose from and a chance to build significant long-term wealth. Want to see the best homes in our area? Let’s \u003Ca href=\"\u002F2024\u002F08\u002F20\u002Fhow-to-choose-a-great-local-real-estate-agent\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">get in touch\u003C\u002Fa> today.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240904\u002F20240905-There-Are-More-Million-Dollar-Homes-than-Ever-original.png",false,[139,140,141],{"id":9,"name":10,"slug":11},{"id":57,"name":58,"slug":59},{"id":93,"name":94,"slug":95},"2024-09-05T10:30:00Z","2024-09-05T10:30:28Z",{"id":145,"slug":146,"title":147,"description":148,"excerpt":131,"contentType":132,"featuredImage":149,"bannerImage":150,"body":151,"agentsBottomLine":152,"bodyImage":153,"isInfographic":137,"categories":154,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":158,"updatedAt":159},54897,"why-a-vacation-home-is-the-ultimate-summer-upgrade","Why a Vacation Home Is the Ultimate Summer Upgrade","\u003Cp>Summer is officially here and that means it’s the perfect time to start planning where you want to vacation and unwind this season.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240617\u002F20240620-Why-a-Vacation-Home-Is-the-Ultimate-Summer-Upgrade-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240626\u002FSTM-Banner-Summer-2021-Seller-Guide-4--original.jpg","\u003Cp>Summer is officially here and that means it’s the perfect time to start planning where you want to vacation and unwind this season. If you’re excited about getting away and having some fun in the sun, it might make sense to consider if \u003Ca href=\"\u002F2024\u002F05\u002F30\u002Fthe-biggest-mistakes-buyers-are-making-today\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">owning\u003C\u002Fa> your own vacation home is right for you.\u003C\u002Fp>\u003Cp>An \u003Cem>Ameriprise Financial\u003C\u002Fem> survey sheds light on why people buy a second, or vacation, home (\u003Cem>see below\u003C\u002Fem>): \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240617\u002F20240620-Primary-Use-for-Second-Homes-original.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240617\u002F20240620-Primary-Use-for-Second-Homes-original.png\" alt=\"No Caption Received\">\u003C\u002Fa>\u003C\u002Fp>\u003Cul>\u003Cli>\u003Cstrong>Vacation destination or a place to get away from the stresses of everyday life (81%)\u003C\u002Fstrong> – Having a second home to use as a vacation spot can be a special place where you go to relax and take a break from your daily routines and stressors. It also means you won’t have \u003Ca href=\"\u002F2024\u002F05\u002F21\u002Fworried-about-home-maintenance-costs-consider-this\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">to worry\u003C\u002Fa> about finding somewhere to stay when you go there.\u003C\u002Fli>\u003Cli>\u003Cstrong>Better weather (49%)\u003C\u002Fstrong> – Buying in a place where there may be nicer weather can be a great escape, especially if it’s cold or rainy where you usually live. It lets you enjoy sunny days and warm temperatures, even when it’s not so nice back home.\u003C\u002Fli>\u003Cli>\u003Cstrong>Rental income (41%)\u003C\u002Fstrong> – You can rent it out to other people when you’re not using it, which can help you make some extra money.\u003C\u002Fli>\u003Cli>\u003Cstrong>Primary residence in the future (33%)\u003C\u002Fstrong> – You can eventually move into the home full-time \u003Ca href=\"\u002F2024\u002F04\u002F12\u002Fthe-perks-of-downsizing-when-you-retire-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">during retirement\u003C\u002Fa>. That means you can enjoy vacations there now and have a getaway ready for your future.\u003C\u002Fli>\u003Cli>\u003Cstrong>Having a venue for gatherings with family and friends (25%)\u003C\u002Fstrong> – It would be a special spot where you can have parties, regular family trips, and create fun memories.\u003C\u002Fli>\u003C\u002Ful>\u003Ch4>\u003Cstrong>Ways To Buy Your Vacation Home\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>And you don’t have to be wealthy to buy a vacation home. \u003Cem>Bankrate\u003C\u002Fem> shares two tips for how to make this dream more achievable for anyone who’s interested:\u003C\u002Fp>\u003Cul>\u003Cli>\u003Cstrong>Buy with loved ones or friends: \u003C\u002Fstrong>If you’re okay with sharing the vacation home, you can go in on the purchase price \u003Ca href=\"\u002F2024\u002F04\u002F25\u002Fis-a-multi-generational-home-right-for-you\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">together\u003C\u002Fa> and pool your resources to make it more affordable.\u003C\u002Fli>\u003Cli>\u003Cstrong>Put a savings plan in place:\u003C\u002Fstrong> This will require patience and persistence but consider adding a vacation home savings plan to \u003Ca href=\"\u002F2024\u002F06\u002F11\u002Fsavings-strategies-every-first-time-homebuyer-needs-to-know\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">your budget\u003C\u002Fa> and contributing to it monthly.\u003C\u002Fli>\u003C\u002Ful>\u003Ch4>\u003Cstrong>Finding Your Dream Spot with a Little Help from an Agent\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>If the idea of basking in the sun at your very own vacation home sounds appealing, you might want to start looking now. Summer's when everyone's trying to buy their slice of paradise, so it’s best to start early.\u003C\u002Fp>\u003Cp>Your first move is to team up with a \u003Ca href=\"\u002F2024\u002F04\u002F09\u002Fthe-top-5-reasons-you-need-a-real-estate-agent-when-buying-a-home\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">real estate agent\u003C\u002Fa>. They know all the ins and outs of the area you want to be in, and which homes you should look at. Plus, they can give you the lowdown on everything you need to know about having a second home and how it can benefit you. The same article from \u003Cem>Bankrate\u003C\u002Fem> says:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“\u003C\u002Fem>\u003Cstrong>\u003Cem>Buying real estate in a new area — or even one you’ve vacationed in for many years — requires expert guidance.\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem> That makes it a good idea to work with an experienced local lender who specializes in loans for vacation homes and a local real estate professional. Local lenders and Realtors will understand the required rules and specifics for the area you are buying, and a local Realtor will know what properties are available.”\u003C\u002Fem>\u003C\u002Fblockquote>","\u003Cp>If the idea of owning your own vacation home appeals to you, \u003Ca href=\"\u002F2024\u002F04\u002F05\u002Ftop-5-reasons-to-hire-an-agent-when-buying-a-home-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">let’s chat\u003C\u002Fa>.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240617\u002F20240620-Primary-Use-for-Second-Homes-original.png",[155,156,157],{"id":9,"name":10,"slug":11},{"id":57,"name":58,"slug":59},{"id":93,"name":94,"slug":95},"2024-06-20T10:30:00Z","2024-07-30T19:02:27Z",{"id":161,"slug":162,"title":163,"description":164,"excerpt":131,"contentType":132,"featuredImage":165,"bannerImage":131,"body":166,"agentsBottomLine":167,"bodyImage":131,"isInfographic":137,"categories":168,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":171,"updatedAt":172},4499,"is-it-time-to-sell-your-second-home","Is It Time To Sell Your Second Home?","During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a \u003Ca href=\"https:\u002F\u002Fwww.investopedia.com\u002Farticles\u002Fpersonal-finance\u002F092414\u002Finvesting-luxury-real-estate.asp\">recent article\u003C\u002Fa>, \u003Cem>Investopedia \u003C\u002Fem>shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2023\u002F01\u002F11104904\u002Fis-it-time-to-sell-your-second-home-KCM.jpg","\u003Cp>During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a \u003Ca href=\"https:\u002F\u002Fwww.investopedia.com\u002Farticles\u002Fpersonal-finance\u002F092414\u002Finvesting-luxury-real-estate.asp\">recent article\u003C\u002Fa>, \u003Cem>Investopedia \u003C\u002Fem>shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.\u003C!--more-->\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Cp>A recent report from the \u003Cem>Institute for Luxury Home Marketing \u003C\u002Fem>(ILHM) \u003Ca href=\"https:\u002F\u002Fissuu.com\u002Frealmarketing\u002Fdocs\u002F_ilhm_-_luxury_report_northamerica_nov2022\">explains\u003C\u002Fa> just how much remote work impacted the demand for second and luxury homes:\u003C\u002Fp>\u003Cp>\u003Cblockquote>\u003Cem>“The unprecedented ten-fold increase towards remote work since the pandemic is an historic development that will continue to fuel second home demand for many years to come.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003C\u002Fp>\u003Cp>But what if you bought a second home that you no longer use? If you’re now shifting back into the office or are seeing your priorities and needs change, you may find you’re not utilizing your second home as much. If so, it may be time to \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2023\u002F01\u002F05\u002F3-best-practices-for-selling-your-house-this-year\u002F\">sell it\u003C\u002Fa>.\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Cp>And if you own what’s considered a luxury home, buyer demand for it may be even greater. In another report, the\u003Cem> Institute for Luxury Home Marketing\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fissuu.com\u002Frealmarketing\u002Fdocs\u002F_ilhm_-_luxury_report_northamerica_dd23a270bcdf6f\">explains\u003C\u002Fa>:\u003C\u002Fp>\u003Cp>\u003Cblockquote>\u003Cem>“. . . the last few years have left their legacy for the luxury market. While it might only represent a small percentage of the overall real estate market, \u003Cstrong>luxury homeownership’s influence is growing\u003C\u002Fstrong>. Not only has the purchase of homes valued over $1 million (a figure considered by the National Association of Realtors to be a benchmark for luxury) tripled from 2.6% to 6.5% since 2018, but\u003Cstrong> demand for multiple luxury properties has soared over the last two years\u003C\u002Fstrong>.\u003C\u002Fem>\u003C\u002Fp>\u003Cp>\u003C\u002Fp>\u003Cp>\u003Cstrong>\u003Cem>This phenomenal increase has been driven by a growing affluent demographic who consider owning a luxury property a necessity in their asset portfolio.\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem> All indications are that this trend is here to stay, albeit that demand is set to return to a more sustainable level.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003C\u002Fp>\u003Cp>If you own a luxury second home that isn’t being used as much anymore, now’s the time to sell. There are still buyers in the market who are looking for a home like yours today.\u003C\u002Fp>\u003Cp>\u003Ch3>\u003Cstrong>Bottom Line \u003C\u002Fstrong>\u003C\u002Fh3>\u003C\u002Fp>\u003Cp>Let’s connect to explore the benefits of selling your second home this year.\u003C\u002Fp>"," \r\nLet’s connect to explore the benefits of selling your second home this year.",[169,170],{"id":13,"name":14,"slug":15},{"id":57,"name":58,"slug":59},"2023-01-12T11:00:01Z","2023-02-03T15:33:30Z",{"id":174,"slug":175,"title":176,"description":177,"excerpt":131,"contentType":132,"featuredImage":178,"bannerImage":131,"body":179,"agentsBottomLine":180,"bodyImage":131,"isInfographic":137,"categories":181,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":184,"updatedAt":185},4094,"luxury-homes-are-in-high-demand","Luxury Homes Are in High Demand","As people realize their needs are changing, some are turning to luxury housing to find their dream home. \u003Cem>Investopedia \u003C\u002Fem>helps define what pushes a home into this category. In a \u003Ca href=\"https:\u002F\u002Fwww.investopedia.com\u002Farticles\u002Fpersonal-finance\u002F092414\u002Finvesting-luxury-real-estate.asp\">recent article\u003C\u002Fa>, they point out that a luxury home isn’t only defined by its price. Location is also an important factor. It could be a condo at a desirable city address, a spacious home on the water, or one with access to luxury activities like arts and entertainment, high-end shopping and dining, and more. The home itself will also boast some of the finest features available.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F06\u002F08161904\u002F20220609-KCM-Share.jpg","As people realize their needs are changing, some are turning to luxury housing to find their dream home. \u003Cem>Investopedia \u003C\u002Fem>helps define what pushes a home into this category. In a \u003Ca href=\"https:\u002F\u002Fwww.investopedia.com\u002Farticles\u002Fpersonal-finance\u002F092414\u002Finvesting-luxury-real-estate.asp\">recent article\u003C\u002Fa>, they point out that a luxury home isn’t only defined by its price. Location is also an important factor. It could be a condo at a desirable city address, a spacious home on the water, or one with access to luxury activities like arts and entertainment, high-end shopping and dining, and more. The home itself will also boast some of the finest features available.\u003C!--more-->\r\n\r\nAccording to the \u003Ca href=\"https:\u002F\u002Fwww.luxuryhomemarketing.com\u002Fassets\u002FLMR_NorthAmerica.pdf\">\u003Cem>Luxury Market Report\u003C\u002Fem>\u003C\u002Fa> from the \u003Cem>Institute for Luxury Home Marketing\u003C\u002Fem>, \u003Cstrong>there’s been a substantial increase in how many buyers are purchasing luxury homes over the past two years.\u003C\u002Fstrong> It says:\r\n\u003Cblockquote>\u003Cem>“. . . North America recorded the fastest growth of demand during the first year of the pandemic. \u003Cstrong>Also, demand has \u003C\u002Fstrong>. . .\u003Cstrong> consistently increased, and\u003C\u002Fstrong> \u003Cstrong>even in April 2022, we saw a higher volume of sales compared to 2021.\u003C\u002Fstrong>”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nIf you own a luxury home, it could be a great time to \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F05\u002F04\u002Fyour-house-could-be-closer-to-list-ready-than-you-think\u002F\">list your house\u003C\u002Fa> today while demand is so high. But first, let’s understand where the demand is coming from.\r\n\u003Ch4>\u003Cstrong>What’s Driving the Heightened Buyer Demand for High-End Homes?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe same report says more people have reached a certain net-worth threshold, and that’s contributing to the increased interest in luxury housing:\r\n\u003Cblockquote>\u003Cem>“In 2020, we saw a 2.2% growth in the number of individuals with wealth of over $5 million in net value, but in 2021 that number grew by an outstanding 19.8%. \u003C\u002Fem>\r\n\r\n\u003Cstrong>\u003Cem>This total increase has resulted in the introduction of over 660,000 new individuals into the high net-worth bracket, which, combined with the existing affluent looking to both diversify and add new properties to their portfolio, provides a true insight into why the demand for luxury properties skyrocketed during 2021 and into 2022\u003C\u002Fem>\u003C\u002Fstrong>\u003Cem>.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nSo, if you’re looking to make changes to your real estate portfolio or are \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F05\u002F16\u002Fif-youre-a-homeowner-you-have-incredible-leverage-when-you-sell-today\u002F\">looking to sell\u003C\u002Fa> your current house, it may be a \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F04\u002F28\u002Fwhat-you-need-to-know-about-selling-in-a-sellers-market\u002F\">great time to list\u003C\u002Fa> and benefit from the high demand for luxury homes today.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you own a luxury home and want to know how strong demand is in your area, let's connect so you can capitalize on current market conditions while buyer demand for upscale homes is so high.","\r\nIf you own a luxury home and want to know how strong demand is in your area, let's connect so you can capitalize on current market conditions while buyer demand for upscale homes is so high.",[182,183],{"id":13,"name":14,"slug":15},{"id":57,"name":58,"slug":59},"2022-06-09T10:00:56Z","2023-02-03T15:34:12Z",{"id":187,"slug":188,"title":189,"description":190,"excerpt":131,"contentType":132,"featuredImage":191,"bannerImage":131,"body":192,"agentsBottomLine":193,"bodyImage":131,"isInfographic":137,"categories":194,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":197,"updatedAt":198},4059,"why-summer-is-a-great-time-to-buy-a-vacation-home","Why Summer Is a Great Time To Buy a Vacation Home","You may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your loved ones. Now that summer is just around the corner, it’s worthwhile to start thinking about your plans and where you want to spend your vacations this year. Here are a few reasons a vacation home could be right for you.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F05\u002F18161517\u002F20220526-KCM-Share.jpg","You may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your loved ones. Now that summer is just around the corner, it’s worthwhile to start thinking about your plans and where you want to spend your vacations this year. Here are a few reasons a vacation home could be right for you.\u003C!--more-->\r\n\u003Ch4>\u003Cstrong>Why You May Want To Consider a Vacation Home Today\u003C\u002Fstrong>\u003C\u002Fh4>\r\nOver the past two years, a lot has changed. You may be one of many people who now \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F02\u002F04\u002Fhow-remote-work-impacts-your-home-search-infographic\u002F\">work from home\u003C\u002Fa> and have added flexibility in where you live. You may also be someone who delayed trips for personal or health reasons. If either is true for you, there could be a unique opportunity to use the flexibility that comes with remote work or the money saved while not traveling to \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F02\u002F21\u002Freal-estate-voted-the-best-investment-eight-years-in-a-row\u002F\">invest in your future\u003C\u002Fa> by buying a vacation home.\r\n\r\n\u003Ca href=\"https:\u002F\u002Fwww.bankrate.com\u002Fmortgages\u002Fhow-to-buy-a-vacation-home\u002F\">\u003Cem>Bankrate\u003C\u002Fem>\u003C\u002Fa> explains why a second home, or a vacation home, may be something worth considering:\r\n\u003Cblockquote>\u003Cem>“For those who are able, buying a second home is suddenly more appealing, as remote working became the norm for many professionals during the pandemic. \u003Cstrong>Why not work from the place where you like to vacation — the place where you want to live?\u003C\u002Fstrong>\u003C\u002Fem>\r\n\r\n\u003Cem>If you don’t work remotely, a vacation home could still be at the top of your wish list if you have a favorite getaway spot that you visit often.\u003Cstrong> It beats staying in a tiny hotel room or worrying about rental rates each time you want to take a trip.”\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>How a Professional Can Help You Find the Right One\u003C\u002Fstrong>\u003C\u002Fh4>\r\nSo, if you’re looking for an oasis, you may be able to make it a second home rather than just the destination for a trip. If you could see yourself soaking up the sun in a vacation home, you may want to start your search. Summer is a popular time to buy vacation homes. By beginning the process now, you could get ahead of the competition.\r\n\r\nThe first step is working with a local real estate advisor who can help you find a home in your desired location. A professional has the knowledge and resources to help you understand the market, what homes are available and at what price points, and more. They can also walk you through all the perks of owning a second home and how it can benefit you.\r\n\r\nA \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Frealtorsr-discuss-top-emerging-tech-trends-impacting-real-estate-industry\">recent article\u003C\u002Fa> from the \u003Cem>National Association of Realtors \u003C\u002Fem>(NAR), mentions some of the top reasons buyers today are looking into purchasing a second, or a vacation, home:\r\n\u003Cblockquote>\u003Cem>“According to Google's data,\u003Cstrong> the top reasons that homeowners cited for purchasing a second home were to diversify their investments, earn money renting, and use as a vacation home\u003C\u002Fstrong>.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nIf any of the reasons covered here resonate with you, connect with a real estate professional to learn more. They can give you \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F05\u002F23\u002Fwork-with-a-real-estate-professional-if-you-want-the-best-advice\u002F\">expert advice\u003C\u002Fa> based on what you need, your goals, and what you’re hoping to get out of your second home.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nOwning a vacation home is an investment in your future and your lifestyle. If this is one of your goals this year, you still have time to buy and enjoy spending the summer in your vacation home. When you’re ready to get started, let’s connect.","\r\nOwning a vacation home is an investment in your future and your lifestyle. If this is one of your goals this year, you still have time to buy and enjoy spending the summer in your vacation home. When you’re ready to get started, let’s connect.",[195,196],{"id":9,"name":10,"slug":11},{"id":57,"name":58,"slug":59},"2022-05-26T10:00:56Z","2022-11-16T17:37:46Z",{"id":200,"slug":201,"title":202,"description":203,"excerpt":131,"contentType":132,"featuredImage":204,"bannerImage":131,"body":205,"agentsBottomLine":206,"bodyImage":131,"isInfographic":137,"categories":207,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":211,"updatedAt":212},3900,"the-perks-of-owning-more-than-one-home","The Perks of Owning More Than One Home","Many things have changed over the past couple of years, and real estate is no exception. One impact is an increased desire to own more than one home. According to the recent \u003Ca href=\"https:\u002F\u002Fwww.luxuryhomemarketing.com\u002Fassets\u002FLMR_NorthAmerica.pdf\">\u003Cem>Luxury Market Report\u003C\u002Fem>\u003C\u002Fa> from \u003Cem>Luxury Home Marketing\u003C\u002Fem>:","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2022\u002F02\u002F18112519\u002F20220222-KCM-Share.jpg","Many things have changed over the past couple of years, and real estate is no exception. One impact is an increased desire to own more than one home. According to the recent \u003Ca href=\"https:\u002F\u002Fwww.luxuryhomemarketing.com\u002Fassets\u002FLMR_NorthAmerica.pdf\">\u003Cem>Luxury Market Report\u003C\u002Fem>\u003C\u002Fa> from \u003Cem>Luxury Home Marketing\u003C\u002Fem>:\u003C!--more-->\r\n\u003Cblockquote>\u003Cem>“As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of \u003C\u002Fem>\u003Cem>relocating\u003C\u002Fem>\u003Cem> as well as \u003Cstrong>the growth of second homeownership\u003C\u002Fstrong>.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThis may be because the pandemic has altered how we think about our homes. Where we live has become, more than ever, our \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F02\u002F14\u002Fare-you-ready-to-fall-in-love-with-homeownership\u002F\">safe space\u003C\u002Fa> and our getaway. And with the rise in \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F02\u002F04\u002Fhow-remote-work-impacts-your-home-search-infographic\u002F\">remote work\u003C\u002Fa>, more people are reconsidering where they want to live and buying second homes to give them greater flexibility. If you fall in that category, here are just a few of the perks you’ll enjoy, and how owning a second home may be a great decision for your lifestyle and your future.\r\n\u003Ch4>\u003Cstrong>Enjoy a Change in Scenery (or Weather)\u003C\u002Fstrong>\u003C\u002Fh4>\r\nWhen you have two homes, you can alternate between them as the weather changes or as you crave different scenery. Do you want to live in an area with a particular season? Would alternating between a resort and a suburban setting be ideal? With two homes, you have those options. Being able to move between homes based on which location best suits you at the time gives you added flexibility and variety that can help increase your \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F02\u002F01\u002Fwhy-a-move-could-bring-you-more-happiness-this-year\u002F\">happiness\u003C\u002Fa>.\r\n\u003Ch4>\u003Cstrong>Build Your Wealth Faster \u003C\u002Fstrong>\u003C\u002Fh4>\r\nYou may have heard that \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F12\u002F21\u002Fthe-average-homeowner-gained-56700-in-equity-over-the-past-year\u002F\">home equity\u003C\u002Fa> is skyrocketing, thanks to ongoing home \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F01\u002F13\u002Fwhats-going-to-happen-with-home-prices-this-year\u002F\">price appreciation.\u003C\u002Fa> \u003Cem>CoreLogic\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fintelligence\u002Fhomeowner-equity-insights\u002F\">reports\u003C\u002Fa> that the \u003Cstrong>average homeowner gained $56,700 in equity over the last year.\u003C\u002Fstrong> With home prices projected to continue rising, if you purchase a second home, you could benefit from rising equity on both properties to build your wealth (and your net worth) even faster.\r\n\u003Ch4>\u003Cstrong>Be Closer to Loved Ones \u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe pandemic has also reignited the importance of being near our loved ones. One option worth exploring is whether you want your second home to be near the people who matter most in your life. This makes it easier to see your loved ones but still gives you your own dedicated, private space so you can be nearby for major life events or longer visits.\r\n\u003Ch4>\u003Cstrong>Lock in Your Expenses\u003C\u002Fstrong>\u003C\u002Fh4>\r\nBuying a second home today and locking in your mortgage rate may be a good option if you’re looking to stabilize your housing costs for the long haul. If you’re approaching retirement or are looking to use your second home as your permanent residence in the future, buying that house now with today’s rate and price may be a good \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F01\u002F21\u002Famericans-choose-real-estate-as-the-best-investment-infographic\u002F\">financial decision\u003C\u002Fa>. That way, no matter what happens with \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2022\u002F02\u002F02\u002Fthe-top-indicator-if-you-want-to-know-where-mortgage-rates-are-heading\u002F\">rates\u003C\u002Fa> and prices in years ahead, your monthly payment is locked in for the next 15-30 years.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nHaving multiple homes has considerable benefits. If owning a second home is something you’re interested in, let’s connect to explore your options, discuss the benefits, and take the next step to start your home search.","\r\nHaving multiple homes has considerable benefits. If owning a second home is something you’re interested in, let’s connect to explore your options, discuss the benefits, and take the next step to start your home search.",[208,209,210],{"id":9,"name":10,"slug":11},{"id":41,"name":42,"slug":43},{"id":57,"name":58,"slug":59},"2022-02-22T11:00:24Z","2022-11-16T17:15:10Z",{"id":214,"slug":215,"title":216,"description":217,"excerpt":131,"contentType":132,"featuredImage":218,"bannerImage":131,"body":219,"agentsBottomLine":220,"bodyImage":131,"isInfographic":137,"categories":221,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":225,"updatedAt":226},3580,"what-to-do-with-your-vacation-home-as-summer-ends","What To Do with Your Vacation Home as Summer Ends","As summer comes to a close, is it time to think about selling your vacation home? Based on recent data and expert opinions, it’s something you may want to consider. According to \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fresearch-and-statistics\u002Fresearch-reports\u002Fvacation-home-counties\">research\u003C\u002Fa> from the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR), \u003Cstrong>vacation home sales are up 57.2% year-over-year for January-April 2021.\u003C\u002Fstrong>","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F08\u002F20133229\u002F20210824-KCM-Share.jpg","As summer comes to a close, is it time to think about selling your vacation home? Based on recent data and expert opinions, it’s something you may want to consider. According to \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fresearch-and-statistics\u002Fresearch-reports\u002Fvacation-home-counties\">research\u003C\u002Fa> from the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR), \u003Cstrong>vacation home sales are up 57.2% year-over-year for January-April 2021.\u003C\u002Fstrong>\u003C!--more-->\r\n\r\nIf you’ve taken your last vacation this summer, here are reasons you should consider selling your vacation home this year.\r\n\u003Ch4>\u003Cstrong>1. Remote work continues to drive demand for vacation homes.\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAs the report from NAR says, based on continuously evolving work needs, there could be more interest in your \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F07\u002Fwhy-you-may-want-to-cash-in-on-your-second-home\u002F\">second home\u003C\u002Fa> than you think:\r\n\u003Cblockquote>\u003Cem>“In 2020, across all nine divisions, the fraction of the workforce that work from home is\u003Cstrong> typically higher in the vacation home counties than in the non-vacation home counties\u003C\u002Fstrong>… The opportunity to work from home could \u003Cstrong>further raise the demand for vacation homes in future years.\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fblockquote>\r\nRecent data shows we’ll likely see a sustained increase in the rate of \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F07\u002F21\u002Fremote-work-has-changed-our-home-needs-is-it-time-for-your-home-to-change-too\u002F\">remote work\u003C\u002Fa> over the next five years. That means \u003Cstrong>your vacation home could be highly sought after by certain buyers\u003C\u002Fstrong>. Lawrence Yun, Chief Economist at NAR, puts it best, \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Fvacation-home-sales-skyrocket-as-a-result-of-pandemic\">saying\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>\"\u003Cstrong>Vacation homes are a hot commodity at the moment\u003C\u002Fstrong> . . . . With many businesses and employers still extending an option to work remotely to workers, vacation housing and second homes will remain a popular choice among buyers.\"\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>2. Selling could allow you to upgrade your vacation spot – or even your day-to-day scenery.\u003C\u002Fstrong>\u003C\u002Fh4>\r\nWhen \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F24\u002Fdemand-for-vacation-homes-is-still-strong\u002F\">demand is high\u003C\u002Fa>, so is buyer competition. When competition is strong, buyers will do everything they can to make their offer on your vacation home as appealing as possible. This can include things like all-cash offers and more. If you \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F08\u002F17\u002Fwhat-does-being-in-a-sellers-market-mean\u002F\">sell now\u003C\u002Fa>, you’ll be able to benefit from high buyer competition and pick the offer with the best possible terms for you. That offer could give you the opportunity to purchase the primary residence of your dreams.\r\n\r\nOr, if you find that you’ll continue working from home, you could consider taking up more permanent residence in your vacation home and selling your primary residence instead. While this isn’t a choice everyone can consider, it could be a great option.\r\n\r\nNo matter what the situation, you don’t have to make the decision on your own. Your trusted \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F28\u002Fsave-time-and-effort-by-selling-with-an-agent\u002F\">real estate advisor\u003C\u002Fa> can help you determine your best option when you’re \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F07\u002F12\u002F4-major-incentives-to-sell-this-summer\u002F\">ready to sell\u003C\u002Fa>.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nBuyers remain interested in vacation homes this year for a number of reasons. Now that summer is winding down, it’s time to think about taking advantage of today’s demand for vacation homes. Let’s connect today if you’re ready to give your second home its day in the sun.","\r\nBuyers remain interested in vacation homes this year for a number of reasons. Now that summer is winding down, it’s time to think about taking advantage of today’s demand for vacation homes. Let’s connect today if you’re ready to give your second home its day in the sun.",[222,223,224],{"id":13,"name":14,"slug":15},{"id":41,"name":42,"slug":43},{"id":57,"name":58,"slug":59},"2021-08-24T10:00:56Z","2021-08-24T10:00:57Z",{"id":228,"slug":229,"title":230,"description":231,"excerpt":131,"contentType":132,"featuredImage":232,"bannerImage":131,"body":233,"agentsBottomLine":234,"bodyImage":131,"isInfographic":137,"categories":235,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":239,"updatedAt":240},1914,"demand-for-vacation-homes-is-still-strong","Demand for Vacation Homes Is Still Strong","The pandemic created a tremendous interest in \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F07\u002Fwhy-you-may-want-to-cash-in-on-your-second-home\u002F\">vacation homes\u003C\u002Fa> across the country. Throughout the last year, many people purchased second homes as a safe getaway from the challenges of the health crisis. With many professionals working from home and many students taking classes remotely, it made sense to see a \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F09\u002F14\u002Ftwo-new-surveys-indicate-urban-to-suburban-lean\u002F\">migration away\u003C\u002Fa> from cities and into counties with more vacation destinations.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F06\u002F23154629\u002F20210624-KCM-Share.jpg","The pandemic created a tremendous interest in \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F07\u002Fwhy-you-may-want-to-cash-in-on-your-second-home\u002F\">vacation homes\u003C\u002Fa> across the country. Throughout the last year, many people purchased second homes as a safe getaway from the challenges of the health crisis. With many professionals working from home and many students taking classes remotely, it made sense to see a \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2020\u002F09\u002F14\u002Ftwo-new-surveys-indicate-urban-to-suburban-lean\u002F\">migration away\u003C\u002Fa> from cities and into counties with more vacation destinations.\u003C!--more-->\r\n\r\nThe \u003Ca href=\"https:\u002F\u002Fcdn.nar.realtor\u002Fsites\u002Fdefault\u002Ffiles\u002Fdocuments\u002F2021-vacation-home-counties-report-06-15-2021.pdf\">2021 Vacation Home Counties Report\u003C\u002Fa> from the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR) shows that this increase in vacation home sales continues in 2021. The report examines sales in counties where “\u003Cem>vacant seasonal, occasional, or recreational use housing account for at least 20% of the housing stock\u003C\u002Fem>” and compares that data to the overall residential market.\r\n\r\nTheir findings show:\r\n\u003Cul>\r\n \t\u003Cli>Vacation home sales \u003Cstrong>rose by 16.4%\u003C\u002Fstrong> to 310,600 in 2020, outpacing the 5.6% growth in total existing-home sales.\u003C\u002Fli>\r\n \t\u003Cli>Vacation home sales are \u003Cstrong>up 57.2% year-over-year\u003C\u002Fstrong> during January-April 2021 compared to the 20% year-over-year change in total existing-home sales.\u003C\u002Fli>\r\n \t\u003Cli>Home prices rose more in vacation home counties – the median existing price rose by \u003Cstrong>14.2% in vacation home counties\u003C\u002Fstrong>, compared to 10.1% in non-vacation home counties.\u003C\u002Fli>\r\n\u003C\u002Ful>\r\nThis coincides with data released by \u003Cem>Zelman & Associates\u003C\u002Fem> on the \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F07\u002Fwhy-you-may-want-to-cash-in-on-your-second-home\u002F\">increase in sales\u003C\u002Fa> of second homes throughout the country last year.\r\n\r\nAs the data above shows, there is still high demand for \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F04\u002F15\u002Fwhy-this-is-a-great-year-to-sell-your-vacation-home\u002F\">second getaway homes\u003C\u002Fa> in 2021 even as the pandemic winds down. While we may see a rise in second-home sellers as life returns to normal, ongoing \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F06\u002F09\u002Fhome-price-appreciation-is-as-simple-as-supply-and-demand\u002F\">low supply and high demand\u003C\u002Fa> will continue to provide those sellers with a good return on their investment.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you’re one of the many people who purchased a vacation home during the pandemic, you’re likely wondering what this means for you. If you’re considering selling that home as life returns to normal, you have options. There are still plenty of buyers in the market. If, on the other hand, you want to keep your second home, enjoy it! Current market conditions show that it’s a good ongoing investment.","\r\nIf you’re one of the many people who purchased a vacation home during the pandemic, you’re likely wondering what this means for you. If you’re considering selling that home as life returns to normal, you have options. There are still plenty of buyers in the market. If, on the other hand, you want to keep your second home, enjoy it! Current market conditions show that it’s a good ongoing investment.",[236,237,238],{"id":13,"name":14,"slug":15},{"id":25,"name":26,"slug":27},{"id":57,"name":58,"slug":59},"2021-06-24T10:00:08Z","2021-06-24T10:00:09Z",{"id":242,"slug":243,"title":244,"description":245,"excerpt":131,"contentType":132,"featuredImage":246,"bannerImage":131,"body":247,"agentsBottomLine":248,"bodyImage":131,"isInfographic":137,"categories":249,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":253,"updatedAt":253},1901,"why-you-may-want-to-cash-in-on-your-second-home","Why You May Want To Cash in on Your Second Home","When stay-at-home mandates were enforced last year, many households realized their homes didn’t really fulfill their new lifestyle needs. An office (in some cases two), a media room, space for children to learn, a gym, and a large yard are all examples of amenities that became highly desirable almost overnight.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F06\u002F03153520\u002F20210607-KCM-Share.jpg","When stay-at-home mandates were enforced last year, many households realized their homes didn’t really fulfill their new lifestyle needs. An office (in some cases two), a media room, space for children to learn, a gym, and a large yard are all examples of amenities that became highly desirable almost overnight.\u003C!--more-->\r\n\r\n\u003Cem>Zelman & Associates\u003C\u002Fem> recently reported that \u003Ca href=\"https:\u002F\u002Fwww.zelmanassociates.com\u002Fresearch\u002Freports\u002F2021\u002F05\u002Freal-estate-broker-survey-continued-price-surge-re\">\u003Cstrong>sales\u003C\u002Fstrong>\u003C\u002Fa>\u003Cstrong> of primary residences grew by 9% in 2020.\u003C\u002Fstrong> That increase in demand was met by the lowest supply of homes for sale in history. High demand and low supply caused prices to skyrocket over the past twelve months. Here are three home price indexes released most recently that show how home values have risen:\r\n\u003Cul>\r\n \t\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.fhfa.gov\u002FMedia\u002FPublicAffairs\u002FPages\u002FUS-House-Prices-Rise-12pt6-Percent-over-the-Last-Year-Up-3pt5-Percent-in-the-First-Quarter.aspx\">FHFA Agency House Price Index\u003C\u002Fa> shows a 13.9% increase\u003C\u002Fli>\r\n \t\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Finsights-download\u002Fhome-price-index.aspx\">\u003Cem>CoreLogic\u003C\u002Fem> Home Price Insights Report\u003C\u002Fa> shows an 11.3% increase\u003C\u002Fli>\r\n \t\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.spglobal.com\u002Fspdji\u002Fen\u002Fdocuments\u002Findexnews\u002Fannouncements\u002F20210525-1381359\u002F1381359_cshomeprice-release-0525.pdf\">S&P Case-Shiller U.S. National Home Price Index\u003C\u002Fa> shows a 13.2% increase\u003C\u002Fli>\r\n\u003C\u002Ful>\r\nPrices increased by double digits in every region of the country and in 19 of 20 major metros. Chicago was the only exception, where prices still rose by 9%.\r\n\u003Ch4>\u003Cstrong>What does this mean to those who purchased a second home during the pandemic?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nMany people didn’t want to give up a home in the city or close to their office. Instead, they purchased a larger second home farther away and moved there to stay safe and have more space. According to the same \u003Cem>Zelman\u003C\u002Fem> report, \u003Cstrong>sales for second homes rose an astonishing 27% in 2020. \u003C\u002Fstrong>\r\n\r\nThat large second-home retreat on a lake or in the mountains would demand a higher price than the average house. Let’s assume a buyer purchased such a home for $500,000. Assuming the middle 13.2% appreciation shown above, that home would now be worth about $566,000.\r\n\r\nThose who bought second homes to improve their lifestyle during the height of the pandemic, or those who just wanted to be in a safer environment, also made a great investment.\r\n\u003Ch4>\u003Cstrong>What should these homeowners do now as the pandemic is receding, and the economy is reopening?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe buyers of those second homes now have a decision to make. Many will move back to the original home they still own (the one that’s closer to work, friends, and family). Should they keep the second home? That could depend on answers to questions like these:\r\n\u003Cul>\r\n \t\u003Cli>Now that you may have to go back to the office (at least a few days a week) and students are required to physically attend school, would you still use the second house enough to warrant the expenses of an additional home?\u003C\u002Fli>\r\n \t\u003Cli>Would you go to the second home on most weekends, or would you return to the movie theater, attend sporting events, eat out at fine restaurants, or spend your time traveling again?\u003C\u002Fli>\r\n\u003C\u002Ful>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you purchased a larger second home during the pandemic, you were able to make day-to-day life much easier for those important to you. You also made it much safer. However, with those goals already accomplished, you now need to decide whether to continue paying the extra expenses or sell the house and cash in your profit. If you decide selling makes sense, let’s connect today to discuss the value of your second home.","\r\nIf you purchased a larger second home during the pandemic, you were able to make day-to-day life much easier for those important to you. You also made it much safer. However, with those goals already accomplished, you now need to decide whether to continue paying the extra expenses or sell the house and cash in your profit. If you decide selling makes sense, let’s connect today to discuss the value of your second home.",[250,251,252],{"id":13,"name":14,"slug":15},{"id":25,"name":26,"slug":27},{"id":57,"name":58,"slug":59},"2021-06-07T10:00:14Z",{"id":255,"slug":256,"title":257,"description":258,"excerpt":131,"contentType":132,"featuredImage":259,"bannerImage":131,"body":260,"agentsBottomLine":261,"bodyImage":131,"isInfographic":137,"categories":262,"isVideo":137,"videoThumbnail":131,"videoSource":131,"publishedAt":269,"updatedAt":269},1899,"dreaming-of-a-bigger-home-why-not-buy-it-this-year","Dreaming of a Bigger Home? Why Not Buy It This Year?","Are you clamoring for extra rooms or a more functional floorplan in your house? Maybe it’s time to make a move. If you’ll be able to work remotely for the long-term or your overall needs have simply changed, it’s a great time to sell your house and move up. Why? With mortgage rates in their favor and higher-priced home sales powering more moves across the country, sellers in today’s market are finding the space they need (and have always dreamed of) by purchasing a home in the upper end of the housing market.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F06\u002F02104046\u002F20210603-KCM-Share.jpg","Are you clamoring for extra rooms or a more functional floorplan in your house? Maybe it’s time to make a move. If you’ll be able to work remotely for the long-term or your overall needs have simply changed, it’s a great time to sell your house and move up. Why? With mortgage rates in their favor and higher-priced home sales powering more moves across the country, sellers in today’s market are finding the space they need (and have always dreamed of) by purchasing a home in the upper end of the housing market.\u003C!--more-->\r\n\r\nWith so \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F05\u002F13\u002Fyour-house-could-be-the-oasis-in-an-inventory-desert\u002F\">few homes\u003C\u002Fa> available for sale and high demand from today’s homebuyers, sellers are profiting in major ways this season. \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F05\u002F10\u002F3-graphs-showing-why-you-should-sell-your-house-now\u002F\">Bidding wars\u003C\u002Fa> are gaining traction, driving up the sale price of more and more homes throughout the country. This means sellers are able to leverage extra cash from higher-priced sales while also taking advantage of today’s \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F03\u002F09\u002Fhow-upset-should-you-be-about-3-mortgage-rates\u002F\">low mortgage rates\u003C\u002Fa> when they purchase their next home. It’s the perfect scenario to move up into a true dream home. According to the \u003Ca href=\"http:\u002F\u002Fblog.luxuryhomemarketing.com\u002Fthe-2021-april-luxury-market-report\u002F\">April Luxury Market Report\u003C\u002Fa> from the \u003Cem>Institute for Luxury Home Marketing\u003C\u002Fem>:\r\n\u003Cblockquote>\u003Cem>“The Institute’s recent analysis of sales in 2020 for homes over 5,000 square feet support the continuing preference for larger homes. The analysis determined that there was a \u003Cstrong>17% increase in the number of 5,000+ sq ft homes sold when compared to the number of sales in 2019\u003C\u002Fstrong>.\u003C\u002Fem>\r\n\r\n\u003Cem>Luxury home prices continue to see record highs in the majority of affluent ex-urban communities, as the influence of being able to work from home is still driving buyers away from living in high density areas. Low interest rates also remain in play, allowing buyers to realize the affordability of owning a larger property, which further reinforces this trend.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nLawrence Yun, \u003Cem>Chief Economist\u003C\u002Fem> for the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR), also \u003Ca href=\"https:\u002F\u002Fmoney.com\u002Fcoronavirus-spring-home-buying-outlook-tips\u002F\">explains\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“The market is hot pretty much everywhere and across all price points . . . \u003Cstrong>The only area where there is sufficient inventory is in $1 million-plus homes\u003C\u002Fstrong> . . . .”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nWhile this price range certainly doesn’t fit every budget, if it’s in your reach this summer, you may want to make your move sooner rather than later. Today, more homes are available in this segment of the market, but as the report mentions, more buyers are investing here too, so competition may heat up sooner rather than later.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you’re planning to sell your current home to move into a larger one, let’s connect today. We’ll discuss your current situation and the opportunities in our local market.","\r\nIf you’re planning to sell your current home to move into a larger one, let’s connect today. We’ll discuss your current situation and the opportunities in our local market.",[263,264,265,266,267,268],{"id":9,"name":10,"slug":11},{"id":13,"name":14,"slug":15},{"id":25,"name":26,"slug":27},{"id":37,"name":38,"slug":39},{"id":41,"name":42,"slug":43},{"id":57,"name":58,"slug":59},"2021-06-03T10:00:50Z",23,true]